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PartnerRe Ltd. Reports Second Quarter and Half Year 2006 Results
Hamilton, Bermuda: July 24, 2006 -- PartnerRe Ltd. (NYSE:PRE) today reported net income of $77.5 million, or $1.20 per share on a fully diluted basis, for the second quarter of 2006. This net income includes net after-tax realized losses on investments of $47.0 million or $0.81 per share. Net income for the second quarter of 2005 including net after-tax realized gains on investments of $37.0 million or $0.67 per share, was $159.9 million or $2.72 per share. Operating earnings for the second quarter of 2006 were $115.9 million or $2.01 per share on a fully diluted basis. This compares to operating earnings of $114.3 million, or $2.05 per share, for the second quarter of 2005. Operating earnings exclude net after-tax realized investment gains and losses and are calculated after payment of preferred dividends.
